US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

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ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

Establishment Labs Holdings In / Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/establishment-labs-holdings-in" target="_blank" data-smartkarma-citation="entities:37042:1" rel="noopener">Establishment Labs (ESTA US)</a> has a market cap of ~$2bn, the majority of its fixed assets located in Costa Rica and the majority of its revenues generated in EMEA.</li>
<li>The company is incorporated in the British Virgin Islands, has a sole listing in the US and moved its headquarters from Costa Rica to the US in November 2025.</li>
<li>
<a href="https://www.smartkarma.com/entities/establishment-labs-holdings-in" target="_blank" data-smartkarma-citation="entities:37042:1" rel="noopener">Establishment Labs (ESTA US)</a> is expected to be added to a major US index in June 2026 and experience material passive fund demand following the change of headquarters.</li>
</ul>



Establishment Labs (ESTA US) has a market cap of ~$2bn, the majority of its fixed assets located in Costa Rica and the majority of its revenues generated in EMEA.
The company is incorporated in the British Virgin Islands, has a sole listing in the US and moved its headquarters from Costa Rica to the US in November 2025.

Establishment Labs (ESTA US) is expected to be added to a major US index in June 2026 and experience material passive fund demand following the change of headquarters.


Establishment Labs (ESTA US): US Index Inclusion After HQ Move from Costa Rica

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Equity Bottom-Up

Establishment Labs Holdings In / Equity Bottom-Up

<ul>
 <li>Establishment Labs is a medical technology company poised for significant growth following the recent US FDA approval for its flagship Motiva® breast implants, granting access to the world's largest market for aesthetic procedures.</li>
 <li>The company's key competitive advantage lies in its focus on safety and innovation, with its proprietary SmoothSilk® surface and ergonomic implant designs demonstrating low complication rates in extensive clinical studies, potentially disrupting a market dominated by long-standing incumbents.</li>
 <li>Despite strong revenue growth, the company has a history of significant net losses and negative cash flow. The successful commercialization in the US and a clear path to profitability are critical for future stock performance.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Establishment Labs is a medical technology company poised for significant growth following the recent US FDA approval for its flagship Motiva® breast implants, granting access to the world's largest market for aesthetic procedures.
  The company's key competitive advantage lies in its focus on safety and innovation, with its proprietary SmoothSilk® surface and ergonomic implant designs demonstrating low complication rates in extensive clinical studies, potentially disrupting a market dominated by long-standing incumbents.
  Despite strong revenue growth, the company has a history of significant net losses and negative cash flow. The successful commercialization in the US and a clear path to profitability are critical for future stock performance.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Establishment Labs Holdings In (ESTA US) - Oct 2025

<ul>
<li>Forecasted inclusions include <a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CRWV</a> &amp; <a href="https://www.smartkarma.com/entities/figma-inc" target="_blank" data-smartkarma-citation="entities:45422:1" rel="noopener">FIG</a> due to increased public voting rights, <a href="https://www.smartkarma.com/entities/bitfarms-ltd-of-canada" target="_blank" data-smartkarma-citation="entities:35932:1" rel="noopener">KEEL</a> &amp; <a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener">SUNB</a> due to newly eligible US index nationality, and <a href="https://www.smartkarma.com/entities/opendoor-technologies-inc" target="_blank" data-smartkarma-citation="entities:32216:1" rel="noopener">OPEN</a> &amp; BMNR due to a price surge.</li>
<li>
<a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener"></a>Projected deletions include <a href="https://www.smartkarma.com/entities/beyond-meat-inc" target="_blank" data-smartkarma-citation="entities:28065:1" rel="noopener">Beyond Meat (BYND US)</a>, <a href="https://www.smartkarma.com/entities/getty-images-holdings-inc" target="_blank" data-smartkarma-citation="entities:37015:1" rel="noopener">Getty Images (GETY US)</a>, and <a href="https://www.smartkarma.com/entities/alight-inc" target="_blank" data-smartkarma-citation="entities:27940:1" rel="noopener">Alight (ALIT US)</a> because of prices below $1 despite market caps of ~$400m.</li>
<li>Anticipated migrations from R2000 to R1000 include<a href="https://www.smartkarma.com/entities/bloom-energy-corp" target="_blank" data-smartkarma-citation="entities:34062:1" rel="noopener"> Bloom Energy (BE US)</a>, <a href="https://www.smartkarma.com/entities/nextracker-inc" target="_blank" data-smartkarma-citation="entities:36731:1" rel="noopener">Nextpower (NXT US)</a>, <a href="https://www.smartkarma.com/entities/fabrinet" target="_blank" data-smartkarma-citation="entities:8813:1" rel="noopener">Fabrinet (FN US)</a>, and <a href="https://www.smartkarma.com/entities/credo-technology-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:35436:1" rel="noopener">Credo Technology (CRDO US)</a>, resulting in passive fund supply.</li>
</ul>


Forecasted inclusions include CRWV &amp; FIG due to increased public voting rights, KEEL &amp; SUNB due to newly eligible US index nationality, and OPEN &amp; BMNR due to a price surge.

Projected deletions include Beyond Meat (BYND US), Getty Images (GETY US), and Alight (ALIT US) because of prices below $1 despite market caps of ~$400m.
Anticipated migrations from R2000 to R1000 include Bloom Energy (BE US), Nextpower (NXT US), Fabrinet (FN US), and Credo Technology (CRDO US), resulting in passive fund supply.


US R3000 Annual Forecasts - Jun26: Additions, Deletions & Migrations

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Establishment Labs is a Costa Rican company known for manufacturing and selling breast implants, with their Motiva implant gaining market share from competitors.</li><li>The stock price of ESTA has recently dropped significantly due to a weak Q3 and lowered guidance, presenting an opportunity for investors to get into the dominant player in the breast augmentation market at a discounted price.</li><li>With Motiva having a low rupture rate and no cases of associated cancers, analysts value ESTA at approximately $100 a share on a DCF basis, making it a compelling investment opportunity for potential growth.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Establishment Labs is a Costa Rican company known for manufacturing and selling breast implants, with their Motiva implant gaining market share from competitors.The stock price of ESTA has recently dropped significantly due to a weak Q3 and lowered guidance, presenting an opportunity for investors to get into the dominant player in the breast augmentation market at a discounted price.With Motiva having a low rupture rate and no cases of associated cancers, analysts value ESTA at approximately $100 a share on a DCF basis, making it a compelling investment opportunity for potential growth.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Establishmnt Lbs Hldng (ESTA) - Monday, Dec 18, 2023

United States

Establishment Labs Holdings Inc. operates as a holding company. The Company, through its subsidiaries, manufactures medical devices and aesthetics products for silicone-filled breast and body shaping implants. Establishment Labs Holdings serves customers worldwide.

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Establishment Labs Holdings In (ESTA US)

Establishment Labs (ESTA US): US Index Inclusion After HQ Move from Costa Rica

Establishment Labs (ESTA US), a $2bn company, is set to join a major US index in June 2026 following its recent headquarters move from Costa Rica...

Dimitris Ioannidis

Primer: Establishment Labs Holdings In (ESTA US) - Oct 2025

Establishment Labs is a medical technology company poised for significant growth following the recent US FDA approval for its flagship Motiva®...

αSK

US R3000 Annual Forecasts - Jun26: Additions, Deletions & Migrations

The last annual reconstitution for index US‑R3000 is approaching, with additions and deletions driven by public voting rights, extreme price...

Dimitris Ioannidis

Establishmnt Lbs Hldng (ESTA) - Monday, Dec 18, 2023

Establishment Labs is a Costa Rican company known for manufacturing and selling breast implants, with their Motiva implant gaining market share...

Value Investors Club (VIC)

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